Gabelli Funds LLC Has $64.70 Million Holdings in Costco Wholesale Corporation $COST

Gabelli Funds LLC lessened its position in Costco Wholesale Corporation (NASDAQ:COST) by 10.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,937 shares of the retailer’s stock after selling 7,710 shares during the quarter. Gabelli Funds LLC’s holdings in Costco Wholesale were worth $64,705,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Costco Wholesale by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 43,620,717 shares of the retailer’s stock worth $37,615,889,000 after purchasing an additional 165,349 shares during the period. Geode Capital Management LLC boosted its stake in Costco Wholesale by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 10,388,519 shares of the retailer’s stock valued at $8,919,573,000 after purchasing an additional 26,690 shares during the period. Morgan Stanley boosted its stake in Costco Wholesale by 1.1% during the 4th quarter. Morgan Stanley now owns 9,523,423 shares of the retailer’s stock valued at $8,212,433,000 after purchasing an additional 107,775 shares during the period. Diamant Asset Management Inc. boosted its stake in Costco Wholesale by 99,278.0% during the 1st quarter. Diamant Asset Management Inc. now owns 6,726,899 shares of the retailer’s stock valued at $672,690,000 after purchasing an additional 6,720,130 shares during the period. Finally, Corient Private Wealth LLC grew its holdings in Costco Wholesale by 838.9% in the 4th quarter. Corient Private Wealth LLC now owns 6,125,405 shares of the retailer’s stock valued at $5,282,182,000 after buying an additional 5,472,968 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kenneth D. Denman sold 885 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total value of $847,343.25. Following the completion of the transaction, the director owned 4,779 shares of the company’s stock, valued at $4,575,653.55. This represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

COST has been the topic of several recent analyst reports. Citigroup began coverage on Costco Wholesale in a research report on Thursday, June 18th. They issued a “neutral” rating and a $1,020.00 price target on the stock. HC Wainwright restated a “buy” rating on shares of Costco Wholesale in a research note on Monday, June 1st. Bank of America boosted their target price on shares of Costco Wholesale from $1,185.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Oppenheimer upped their target price on shares of Costco Wholesale from $1,100.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company increased their price target on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Thursday, April 9th. Twenty-two research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,059.07.

Trending Headlines about Costco Wholesale

Here are the key news stories impacting Costco Wholesale this week:

• Positive Sentiment: Record demand for Costco Gas is driving more store visits, which can support merchandise sales and membership renewals by increasing overall customer traffic. Costco Gas Demand Hits Record as Low Prices Drive Member Visits
• Positive Sentiment: Costco was highlighted as a stock that can hold up if inflation stays elevated, with its membership model and scale seen as a defensive advantage for investors. 2 Stocks Built to Thrive If Inflation Refuses to Fade (COST)
• Positive Sentiment: Analysts continue to view Costco favorably overall, with the company reported to have a “Moderate Buy” consensus recommendation. Costco Wholesale Corporation (NASDAQ:COST) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Some shoppers may be eligible for cash from Costco’s $14 million settlement in Washington, which is a consumer-relations issue but does not appear large enough to materially change the investment case. Some Costco shoppers could qualify for cash in settlement payout
• Neutral Sentiment: Short interest data showed 0 shares reported, offering no meaningful new signal on trading pressure or sentiment.

Costco Wholesale Stock Up 1.0%

COST opened at $935.03 on Friday. Costco Wholesale Corporation has a fifty-two week low of $844.06 and a fifty-two week high of $1,096.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.61. The firm’s fifty day moving average price is $965.91 and its two-hundred day moving average price is $979.93. The company has a market capitalization of $414.67 billion, a P/E ratio of 47.03, a P/E/G ratio of 4.48 and a beta of 0.88.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, May 28th. The retailer reported $4.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.94 by ($0.01). Costco Wholesale had a net margin of 3.01% and a return on equity of 28.04%. The business had revenue of $70.53 billion during the quarter, compared to the consensus estimate of $70.12 billion. During the same period last year, the firm earned $4.28 EPS. On average, analysts anticipate that Costco Wholesale Corporation will post 20.42 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $5.88 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s payout ratio is presently 29.58%.

About Costco Wholesale

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.